Bitcoin ETF

Bitcoin

Arkham

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Blockchain data tracking firm Arkham Intel identified wallets linked to WisdomTree’s Physical Bitcoin ETP WBIT.</li>
 <li>WBIT, a physically-backed Bitcoin ETP, holds 8,900 BTC across 134 wallets, valued at approximately $579 million.</li>
</ul>
<p>Arkham Intel, a company specializing in blockchain data tracking, has identified wallets that are linked to WBIT, a physical <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) exchange-traded product (ETP) managed by WisdomTree.</p>
<p>The ETP has approximately 8,900 BTC in its possession, which are distributed across 134 different wallets. The total value of these Bitcoins is around $579 million.</p>
<h2 id="about-wbit">About WBIT</h2>
<p>WBIT is a physically-backed ETP that provides shareholders with a straightforward, secure, and cost-effective means to invest in Bitcoin. The ETP offers easy access for investors, tradability, transparency, and institutional custody solutions, all within a robust physically-backed structure.</p>
<p>A physically-backed Bitcoin ETP is similar to a spot Bitcoin ETF in the sense that both types of products use Bitcoin as their underlying asset. They both closely track the price of Bitcoin. However, a spot Bitcoin ETF may employ derivatives to track the price of Bitcoin, eliminating the need for the investor to hold the coin.</p>
<p>In contrast, a physically-backed Bitcoin ETP like WBIT gives investors entitlement to a portion of the Bitcoin owned by the fund in cold storage.</p>
<h2 id="other-wisdomtree-products">Other WisdomTree Products</h2>
<p>WisdomTree also offers a spot Bitcoin ETF, known as WBTC, which received approval on January 10, 2024. As per available data, WBTC saw a U.S. dollar volume of $31.6 million on April 24 and $10.6 million on April 25.</p>

Arkham Intel Discovers WBIT Bitcoin ETP Wallets Linked to Wisdomtree

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